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The African National Congress (ANC) warmly welcomes
the decision by the World Bank to grant the much-needed $3.75billion loan to
the South African power utility, Eskom. The loan will now see the
realisation of major expansion projects proceeding well and unhindered by
financial constraints.

The recapitalisation of our energy industry signals
a boost in economic development and guarantees a security of supply, not
only in the country but in neighbouring South African Development Community
(SADC) countries dependent on South Africa for power supply.

We hail the
decision by the World Bank in putting - not only the interests of the people
of South Africa first - but the entire continent, confounding such narrow
critics like the Democratic Alliance (DA) leader Helen Zille who have been
campaigning against the granting of the loan.

The failed bid by Zille has
exposed her and the DA clique - not only as unpatriotic - but bent on
destroying the growing South African economy to satisfy narrow
interests.